VIP buys Uber's Lisbon headquarters for €18M

VIP buys Uber's Lisbon headquarters for €18M

The VIP Fund, managed by Silvip, has acquired the Barbosa du Bocage 85 building from Patron Capital and Finangeste. According to news advanced by Negócios in August, the building was acquired by the Portuguese fund for a value of 18 million euros.

As part of the marketing process, C&W and RPE, in co-exclusive representation of Patron Capital and Finangeste, presented this opportunity to the respective fund.

The office building, located at Avenida Barbosa du Bocage 85, underwent a thorough rehabilitation in 2020: it has approximately 3,800 square metres of gross constructive area, spread over 6 floors and additionally 116 parking spaces.

The Portuguese company and the pan-European real estate fund Patron Capital bought this office building from Tranquilidade in 2019. Currently, the building Barbosa du Bocage 85 is fully occupied by Uber and Park In since 2019.

For David Lopes MRICS, Partner and Head of Capital Markets at Cushman & Wakefield, "we were delighted to advise Patron Capital and Finangeste on the sale of the Edifício Barbosa do Bocage 85. This transaction is a reflection of the continued confidence of institutional investors in the present and future of Lisbon's investment and office space markets. We would also like to congratulate Silvip for the acquisition of a high quality building in the centre of Lisbon".

Tim Seconde, Head of Capital Markets at RPE, said, "In a time of relative uncertainty, there is still investor confidence in the right product with the right return. We will certainly continue to see transactional activity in the Lisbon office market over the next 12 months. We are proud to have been involved in this transaction with Patron and Finangeste.

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